|Public Act 099-0253|
|HB1319 Enrolled||LRB099 04863 HEP 24892 b|
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Security Deposit Interest Act is amended by
changing Section 2 as follows:
(765 ILCS 715/2)
(from Ch. 80, par. 122)
The lessor shall, within 30 days after the end of
each 12 month rental
period, pay to the lessee any interest
that has accumulated to an amount of $5 or more
, by cash or
credit to be
applied to rent due, except when the lessee is in
default under the terms
of the lease.
The lessor shall pay all
interest that has accumulated and remains unpaid, regardless of
the amount, upon termination of the tenancy.
A lessor who willfully fails or refuses to pay the interest
this Act shall, upon a finding by a circuit court
that he has willfully
failed or refused to pay, be liable for
an amount equal to the amount of
the security deposit, together
with court costs and reasonable attorneys fees.
(Source: P.A. 79-1428